Hyundai is India's second-largest carmaker by sales and the country's largest exporter.
Hyundai is India's second-largest carmaker by sales and the country's largest exporter.
Mumbai
: South Korea's Hyundai Motor Co plans to raise the prices of its car models in India by up to 30,000 rupees ($448.60) starting in January, its local unit said, citing challenging market conditions.
-"We are constrained to consider the price increase on account of factors like increase in cost of components, weak rupee etc,-" Rakesh Srivastava, senior vice president of sales and marketing at Hyundai Motor India Ltd, said in a statement.
Hyundai's plans come a week after German carmaker BMW said it would raise the prices of its BMW- and Mini-branded cars sold in India by up to 3 per cent starting next year.
Hyundai is India's second-largest carmaker by sales and the country's largest exporter. India's car market, the world's sixth largest, is expected to grow to the number three position by 2020 as incomes rise.
